MBB Public Markets I LLC Lowers Position in Cameco Corporation $CCJ

Key Points

• MBB Public Markets I LLC cut its stake in Cameco by 86.6% in Q3, selling 328,900 shares and retaining 50,965 shares worth $4.27 million (Cameco is ~0.6% of the firm's portfolio).
• Analyst sentiment is broadly positive: 13 Buy vs. 2 Hold ratings, a consensus rating of "Moderate Buy" and an average price target of $150.40, with several firms recently raising targets into the $150–$171 range.
• Cameco reported stronger-than-expected quarterly results (EPS $0.36 vs. $0.29 estimate; revenue $874.6M vs. $782.1M) and trades around $110 with a market cap of ~$48 billion and a 52-week range of $35–$135.24.

MBB Public Markets I LLC lowered its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 86.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,965 shares of the basic materials company's stock after selling 328,900 shares during the period. Cameco makes up approximately 0.6% of MBB Public Markets I LLC's portfolio, making the stock its 15th biggest holding. MBB Public Markets I LLC's holdings in Cameco were worth $4,274,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Consulate Inc. acquired a new position in Cameco in the third quarter valued at $25,000. Armstrong Advisory Group Inc. grew its position in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 182 shares during the period. Delos Wealth Advisors LLC increased its stake in Cameco by 60.0% during the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company's stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Cameco during the 3rd quarter worth about $37,000. Finally, Tobam increased its position in Cameco by 389.1% during the 3rd quarter. Tobam now owns 450 shares of the basic materials company's stock worth $38,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. Glj Research reissued a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Zacks Research downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $150.40.

Cameco Stock Up 2.2%

Shares of NYSE:CCJ opened at $110.26 on Tuesday. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of 113.67 and a beta of 0.98. The company has a 50 day moving average of $116.75 and a two-hundred day moving average of $98.16. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analysts' expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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